Merck & Co., Inc. (NYSE:MRK) Sets New 12-Month High – Here’s What Happened

Shares of Merck & Co., Inc. (NYSE:MRK) hit a new 52-week high during trading on Wednesday . The stock traded as high as $106.48 and last traded at $106.5170, with a volume of 794304 shares. The stock had previously closed at $105.04.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MRK shares. Citigroup assumed coverage on shares of Merck & Co., Inc. in a report on Monday, October 13th. They issued a “neutral” rating and a $95.00 price target on the stock. Berenberg Bank cut shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their target price for the company from $100.00 to $90.00 in a research note on Wednesday, September 17th. Scotiabank increased their price target on shares of Merck & Co., Inc. from $105.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 4th. Wells Fargo & Company raised Merck & Co., Inc. from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $90.00 to $125.00 in a report on Monday, November 24th. Finally, Morgan Stanley upped their price objective on Merck & Co., Inc. from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Friday, December 12th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Merck & Co., Inc. presently has a consensus rating of “Hold” and an average price target of $110.13.

Merck & Co., Inc. Price Performance

The stock has a market capitalization of $264.35 billion, a P/E ratio of 14.07, a PEG ratio of 1.01 and a beta of 0.29. The company’s 50 day simple moving average is $95.05 and its two-hundred day simple moving average is $86.89. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.44.

Merck & Co., Inc. (NYSE:MRK) last posted its earnings results on Friday, January 30th. The company reported $1.94 earnings per share (EPS) for the quarter. Merck & Co., Inc. had a net margin of 29.63% and a return on equity of 44.54%. As a group, equities analysts expect that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Monday, December 15th will be paid a $0.85 dividend. This is an increase from Merck & Co., Inc.’s previous quarterly dividend of $0.81. This represents a $3.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, December 15th. Merck & Co., Inc.’s payout ratio is presently 44.91%.

Insider Activity at Merck & Co., Inc.

In other news, EVP David Michael Williams sold 8,614 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $83.59, for a total value of $720,044.26. Following the completion of the sale, the executive vice president directly owned 24,578 shares in the company, valued at approximately $2,054,475.02. This trade represents a 25.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legend Financial Advisors Inc. acquired a new position in shares of Merck & Co., Inc. during the second quarter worth approximately $25,000. Darwin Wealth Management LLC raised its position in Merck & Co., Inc. by 237.4% in the 3rd quarter. Darwin Wealth Management LLC now owns 307 shares of the company’s stock worth $26,000 after purchasing an additional 216 shares during the last quarter. Kilter Group LLC acquired a new position in Merck & Co., Inc. during the 2nd quarter worth $27,000. Bare Financial Services Inc lifted its holdings in Merck & Co., Inc. by 51.9% during the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the company’s stock worth $29,000 after buying an additional 125 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC boosted its position in Merck & Co., Inc. by 302.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 354 shares of the company’s stock valued at $30,000 after buying an additional 266 shares during the last quarter. Institutional investors and hedge funds own 76.07% of the company’s stock.

About Merck & Co., Inc.

Merck & Co, Inc is a global biopharmaceutical company engaged in the discovery, development, manufacture and marketing of prescription medicines, vaccines, biologic therapies and animal health products. Its portfolio spans multiple therapeutic areas with a particular emphasis on oncology, vaccines and infectious disease, as well as therapies for metabolic and chronic conditions. Among its well-known products are the cancer immunotherapy Keytruda (pembrolizumab) and the human papillomavirus vaccine Gardasil; the company also markets a range of medicines and vaccines for veterinary use through Merck Animal Health.

Founded in the late 19th century as the U.S.